Technologies That Will Shape the Future of WEB3
This blog post will cover:
- What is Web3?
- Artificial Intelligence (AI) and Machine Learning (ML)
- Quantum and Edge computing
- Internet of Things (IoT)
The world around us is quickly changing all the time. With the pace of the introduction of new technologies, it is no wonder that we sometimes struggle to keep up with them. And while innovation is ubiquitous and can be seen in pretty much all spheres, it seems to be especially visible in the IT sphere.
In this article, we will dive deep into the technological trends that will shape Web3 in the future.
What is Web3?
Web3 (decentralized web, or blockchain web) is simply the next step of the development of the Internet. In Web3, users can interact with decentralized applications (dApps) built on blockchain networks. Its mission is to create a more open and trustless Internet.
Here are the main principles of Web3:
- decentralization (dApps instead of centralized services and platforms);
- transparency (data is visible on the public blockchains);
- security (the use of key phrases instead of passwords).
Building dApps that are based on these principles is possible thanks to blockchain technology, which provides a decentralized and secure way to store data and execute transactions.
In general, Web3 represents a shift towards a more transparent Internet, where users have greater control over their data and can participate in the creation and governance of online communities and services. Now we will have a look at the technologies that are going to shape this new phase of the Internet’s evolution.
Artificial Intelligence (AI) and Machine Learning (ML)
AI has been trading lately with the development of such products as ChatGPT (which recently took over our Twitter account for a week), Google Cloud Machine Learning Engine, and others. ML algorithms can be trained to detect fraud. Moreover, Web3 can offer a personalized experience by using AI to analyze users’ preferences and behavior.
AI and ML are able to also enhance the crypto sphere in particular: the technologies can be utilized to optimize smart contracts and develop Decentralized Autonomous Organizations (DAOs).
Quantum and Edge computing
Unlike ordinary computers, which use bits that can be either 0 or 1, quantum computers use qubits that can be both 0 and 1 simultaneously, which allows them to perform certain types of calculations much faster. Edge computing involves processing data on devices that are located at the edge of a network, such as smartphones, sensors, etc. instead of relying on a central server.
Quantum computers can potentially speed up the validation process for new blocks in the blockchain and make it more efficient. Edge computing enhances decentralization, which is why it can make future Web3 applications user-friendly, efficient, and secure. Finally, the combination of both could create completely new types of Web3 applications (more complex smart contracts, real-time data processing for DeFi apps, etc).
Internet of Things (IoT)
IoT is the interconnected network of physical devices and vehicles. They are equipped with sensors and software that collect and exchange data with other devices. IoT creates a seamless exchange of information between the digital and physical worlds.
When it comes to Web3, IoT devices can integrate with Web3's decentralized identity and access management systems to enhance security and privacy. With Web3, IoT devices can leverage blockchain-based protocols to ensure secure and tamper-proof data.
Biometrics involves using unique physical features (fingerprints, facial features, or voice) to confirm someone's identity. In the realm of Web3, the most noticeable use case for biometrics is the Metaverse. Other than using touch and smell, the Metaverse of the future will probably use biometrics for authentication and identity verification.
Also, a somewhat more exciting use for biometrics is creating customized avatars in the Metaverse. Participants could potentially use their own facial features or body movements for a more realistic representation in the digital world.
Additionally, biometrics can be used as an input in smart contracts. For example, a smart contract can be set up to only execute if a certain biometric signature is provided.
As the world around us continues to rapidly change, the technological trends that will shape Web3 in the future are becoming more and more apparent. With decentralized applications built on blockchain networks, Web3 promises a more transparent and trustless Internet, with users having greater control over their data and online communities. To achieve this, Web3 will rely on emerging technologies such as AI and machine learning, quantum and edge computing, the Internet of Things, and biometrics. By integrating these technologies, Web3 has the potential to create new types of decentralized applications that are more secure, efficient, and user-friendly. Overall, Web3 represents a significant step forward in the evolution of the Internet, offering exciting possibilities for the future.